Device with GPS to manage risk for financial transactions
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United States of America Patent
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May 17, 2011
Grant Date -
Jul 7, 2005
app pub date -
Dec 23, 2003
filing date -
Dec 23, 2003
priority date (Note) -
In Force
status (Latency Note)
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Abstract
The present teachings describe a system for processing financial transactions. In one embodiment, the system includes a remote terminal adapted to identify the location of financial transactions via global positioning system (GPS) information such that the remote terminal acquires transaction information from a user and transmits a first signal indicative of transaction information and GPS information. In addition, the system includes an authorizing host adapted to receive the first signal transmitted by the remote terminal such that the authorizing host evaluates the risk associated with financial transactions based, at least in part, on the GPS information so as to determine whether to accept or decline the financial transaction. The present teachings further describe devices and methods of acquiring GPS information for the purpose of managing risk for financial transactions.
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